| Schedule of Investments (unaudited) October 31, 2023 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks |
||||||||
| Australia — 6.0% | ||||||||
| Aristocrat Leisure Ltd. |
86,139 | $ | 2,117,304 | |||||
| Australia & New Zealand Banking Group Ltd. |
15,159 | 239,042 | ||||||
| BlueScope Steel Ltd. |
15,295 | 183,348 | ||||||
| Brambles Ltd. |
55,671 | 464,616 | ||||||
| Cochlear Ltd. |
6,909 | 1,058,971 | ||||||
| Commonwealth Bank of Australia |
8,147 | 501,170 | ||||||
| CSL Ltd. |
15,362 | 2,270,382 | ||||||
| Fortescue Metals Group Ltd. |
134,056 | 1,907,056 | ||||||
| GPT Group (The) |
289,314 | 667,687 | ||||||
| IDP Education Ltd. |
4,020 | 55,542 | ||||||
| IGO Ltd. |
120,528 | 729,841 | ||||||
| Insurance Australia Group Ltd. |
23,011 | 83,013 | ||||||
| Lottery Corp. Ltd. (The) |
189,271 | 546,344 | ||||||
| Macquarie Group Ltd. |
53,566 | 5,506,043 | ||||||
| Medibank Pvt Ltd. |
235,701 | 514,365 | ||||||
| Mineral Resources Ltd. |
9,357 | 344,873 | ||||||
| Mirvac Group |
122,743 | 142,413 | ||||||
| National Australia Bank Ltd. |
119,410 | 2,139,140 | ||||||
| Pilbara Minerals Ltd.(a) |
133,399 | 313,354 | ||||||
| Qantas Airways Ltd.(b) |
333,520 | 1,044,886 | ||||||
| QBE Insurance Group Ltd. |
42,048 | 416,952 | ||||||
| REA Group Ltd. |
6,807 | 624,914 | ||||||
| Rio Tinto Ltd. |
7,171 | 535,660 | ||||||
| Santos Ltd. |
16,330 | 79,682 | ||||||
| Stockland |
439,405 | 991,711 | ||||||
| Suncorp Group Ltd. |
50,653 | 431,140 | ||||||
| Transurban Group |
63,197 | 475,778 | ||||||
| Vicinity Ltd. |
369,775 | 400,515 | ||||||
| Wesfarmers Ltd. |
39,153 | 1,259,701 | ||||||
| Westpac Banking Corp. |
72,989 | 958,475 | ||||||
| Woodside Energy Group Ltd. |
39,827 | 867,424 | ||||||
|
|
|
|||||||
| 27,871,342 | ||||||||
| Austria — 0.3% | ||||||||
| Erste Group Bank AG |
5,527 | 197,918 | ||||||
| Verbund AG |
11,481 | 997,546 | ||||||
|
|
|
|||||||
| 1,195,464 | ||||||||
| Belgium — 1.2% | ||||||||
| Ageas SA/NV |
4,236 | 162,717 | ||||||
| Anheuser-Busch InBev SA/NV |
35,816 | 2,037,861 | ||||||
| KBC Group NV |
1,838 | 101,154 | ||||||
| Umicore SA |
125,407 | 2,983,788 | ||||||
| Warehouses De Pauw CVA |
5,237 | 129,576 | ||||||
|
|
|
|||||||
| 5,415,096 | ||||||||
| Canada — 10.2% | ||||||||
| Algonquin Power & Utilities Corp. |
73,830 | 371,612 | ||||||
| Alimentation Couche-Tard Inc. |
3,475 | 189,167 | ||||||
| ARC Resources Ltd. |
45,063 | 724,973 | ||||||
| Bank of Nova Scotia (The) |
117,866 | 4,772,436 | ||||||
| BCE Inc. |
40,385 | 1,499,203 | ||||||
| Brookfield Asset Management Ltd. |
8,094 | 232,008 | ||||||
| Brookfield Corp., Class A |
56,706 | 1,652,008 | ||||||
| Canadian Pacific Kansas City Ltd. |
13,234 | 939,621 | ||||||
| CCL Industries Inc., Class B, NVS |
5,520 | 215,824 | ||||||
| CGI Inc.(b) |
18,575 | 1,793,273 | ||||||
| Empire Co. Ltd., Class A, NVS |
33,004 | 904,382 | ||||||
| Enbridge Inc. |
133,046 | 4,263,612 | ||||||
| First Quantum Minerals Ltd. |
14,979 | 173,580 | ||||||
| Fortis Inc. |
13,244 | 525,844 | ||||||
| Franco-Nevada Corp. |
38,309 | 4,660,341 | ||||||
| Gildan Activewear Inc. |
4,511 | 128,133 | ||||||
| Security | Shares | Value | ||||||
| Canada (continued) | ||||||||
| iA Financial Corp. Inc. |
1,064 | $ | 61,910 | |||||
| IGM Financial Inc. |
3,253 | 73,235 | ||||||
| Loblaw Companies Ltd. |
6,593 | 539,231 | ||||||
| Manulife Financial Corp. |
25,510 | 444,068 | ||||||
| Metro Inc. |
1,771 | 89,958 | ||||||
| Northland Power Inc. |
63,161 | 887,693 | ||||||
| Nutrien Ltd. |
10,253 | 550,671 | ||||||
| Parkland Corp. |
41,752 | 1,263,625 | ||||||
| Pembina Pipeline Corp. |
5,438 | 167,365 | ||||||
| Restaurant Brands International Inc. |
47,032 | 3,159,208 | ||||||
| Royal Bank of Canada |
89,821 | 7,174,021 | ||||||
| Shopify Inc., Class A(b) |
46,835 | 2,211,808 | ||||||
| Sun Life Financial Inc. |
71,814 | 3,280,115 | ||||||
| TELUS Corp. |
82,001 | 1,322,187 | ||||||
| Toronto-Dominion Bank (The) |
55,895 | 3,122,139 | ||||||
|
|
|
|||||||
| 47,393,251 | ||||||||
| Denmark — 3.2% | ||||||||
| Chr Hansen Holding A/S |
3,356 | 229,013 | ||||||
| Danske Bank A/S |
91,981 | 2,157,756 | ||||||
| DSV A/S |
16,068 | 2,401,216 | ||||||
| Genmab A/S(b) |
133 | 37,597 | ||||||
| Novo Nordisk A/S |
91,321 | 8,810,304 | ||||||
| Vestas Wind Systems A/S(b) |
54,671 | 1,184,981 | ||||||
|
|
|
|||||||
| 14,820,867 | ||||||||
| Finland — 0.8% | ||||||||
| Fortum OYJ |
29,256 | 347,369 | ||||||
| Neste OYJ |
29,416 | 988,611 | ||||||
| Stora Enso OYJ, Class R |
7,675 | 92,241 | ||||||
| Wartsila OYJ Abp |
185,591 | 2,214,749 | ||||||
|
|
|
|||||||
| 3,642,970 | ||||||||
| France — 10.5% | ||||||||
| Airbus SE |
3,900 | 522,897 | ||||||
| Alstom SA |
4,166 | 56,418 | ||||||
| Amundi SA(c) |
18,861 | 985,286 | ||||||
| Arkema SA |
2,382 | 223,200 | ||||||
| AXA SA |
25,612 | 758,894 | ||||||
| BioMerieux |
10,612 | 1,018,884 | ||||||
| Bollore SE |
66,417 | 362,573 | ||||||
| Capgemini SE |
9,600 | 1,696,597 | ||||||
| Carrefour SA |
71,363 | 1,251,098 | ||||||
| Cie. de Saint-Gobain |
15,222 | 828,597 | ||||||
| Danone SA |
3,014 | 179,304 | ||||||
| Dassault Systemes SE |
18,615 | 766,815 | ||||||
| Engie SA |
43,527 | 692,292 | ||||||
| EssilorLuxottica SA |
9,896 | 1,792,002 | ||||||
| Gecina SA |
1,553 | 152,490 | ||||||
| Hermes International |
487 | 908,657 | ||||||
| Ipsen SA |
5,957 | 704,072 | ||||||
| Klepierre SA |
25,489 | 618,969 | ||||||
| La Francaise des Jeux SAEM(c) |
3,050 | 98,384 | ||||||
| Legrand SA |
38,962 | 3,370,461 | ||||||
| L’Oreal SA |
10,770 | 4,526,959 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE |
11,022 | 7,890,984 | ||||||
| Publicis Groupe SA |
3,050 | 232,237 | ||||||
| Remy Cointreau SA |
644 | 73,172 | ||||||
| Renault SA |
11,749 | 412,204 | ||||||
| Sanofi |
40,089 | 3,640,331 | ||||||
| Sartorius Stedim Biotech |
1,425 | 266,792 | ||||||
| Schneider Electric SE |
42,111 | 6,479,085 | ||||||
| SEB SA |
1,771 | 175,128 | ||||||
| Sodexo SA |
12,191 | 1,290,156 | ||||||
|
|
1 |
| Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| France (continued) | ||||||||
| Teleperformance |
4,293 | $ | 493,874 | |||||
| TotalEnergies SE |
79,588 | 5,321,054 | ||||||
| Vinci SA |
1,857 | 205,337 | ||||||
| Vivendi SE |
56,259 | 504,502 | ||||||
| Wendel SE |
1,824 | 136,631 | ||||||
| Worldline SA/France(b)(c) |
21,606 | 274,740 | ||||||
|
|
|
|||||||
| 48,911,076 | ||||||||
| Germany — 5.6% | ||||||||
| adidas AG |
960 | 170,695 | ||||||
| Allianz SE, Registered |
17,685 | 4,142,578 | ||||||
| BASF SE |
19,129 | 883,896 | ||||||
| Commerzbank AG |
10,800 | 116,484 | ||||||
| Covestro AG(b)(c) |
8,780 | 444,814 | ||||||
| Deutsche Bank AG, Registered |
35,935 | 395,449 | ||||||
| Deutsche Post AG, Registered |
18,821 | 734,838 | ||||||
| Deutsche Telekom AG, Registered |
120,852 | 2,622,931 | ||||||
| E.ON SE |
52,191 | 620,975 | ||||||
| HeidelbergCement AG |
8,640 | 627,206 | ||||||
| HelloFresh SE(b) |
2,778 | 60,764 | ||||||
| Henkel AG & Co. KGaA |
1,657 | 104,723 | ||||||
| Mercedes-Benz Group AG |
19,740 | 1,161,388 | ||||||
| Merck KGaA |
10,106 | 1,526,394 | ||||||
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered |
5,821 | 2,336,014 | ||||||
| Puma SE |
5,740 | 325,275 | ||||||
| Rational AG |
161 | 91,815 | ||||||
| SAP SE |
33,545 | 4,499,469 | ||||||
| Siemens AG, Registered |
24,515 | 3,253,112 | ||||||
| Siemens Healthineers AG(c) |
30,641 | 1,507,438 | ||||||
| Vonovia SE |
8,093 | 186,318 | ||||||
| Zalando SE(b)(c) |
14,738 | 344,729 | ||||||
|
|
|
|||||||
| 26,157,305 | ||||||||
| Hong Kong — 1.9% | ||||||||
| AIA Group Ltd. |
462,800 | 4,018,864 | ||||||
| Budweiser Brewing Co. APAC Ltd.(c) |
563,500 | 1,070,845 | ||||||
| Hang Lung Properties Ltd. |
227,000 | 298,382 | ||||||
| Hang Seng Bank Ltd. |
61,800 | 706,565 | ||||||
| Hong Kong Exchanges & Clearing Ltd. |
24,200 | 846,580 | ||||||
| MTR Corp. Ltd. |
269,500 | 1,007,441 | ||||||
| Sands China Ltd.(b) |
50,400 | 135,679 | ||||||
| Swire Pacific Ltd., Class A |
127,500 | 814,449 | ||||||
|
|
|
|||||||
| 8,898,805 | ||||||||
| Ireland — 0.2% | ||||||||
| Bank of Ireland Group PLC |
44,168 | 395,821 | ||||||
| Flutter Entertainment PLC, Class DI(b) |
1,409 | 221,294 | ||||||
| Smurfit Kappa Group PLC |
10,733 | 349,852 | ||||||
|
|
|
|||||||
| 966,967 | ||||||||
| Israel — 0.2% | ||||||||
| Bank Leumi Le-Israel BM |
40,483 | 260,748 | ||||||
| CyberArk Software Ltd.(b) |
1,839 | 300,934 | ||||||
| Nice Ltd.(b) |
1,097 | 168,165 | ||||||
| Wix.com Ltd.(b) |
3,205 | 256,079 | ||||||
|
|
|
|||||||
| 985,926 | ||||||||
| Italy — 2.0% | ||||||||
| Amplifon SpA |
6,760 | 191,061 | ||||||
| Enel SpA |
545,765 | 3,464,287 | ||||||
| FinecoBank Banca Fineco SpA |
79,620 | 939,249 | ||||||
| Intesa Sanpaolo SpA |
747,172 | 1,946,974 | ||||||
| Telecom Italia SpA/Milano(a)(b) |
511,590 | 132,278 | ||||||
| Security | Shares | Value | ||||||
| Italy (continued) | ||||||||
| UniCredit SpA |
100,006 | $ | 2,507,112 | |||||
|
|
|
|||||||
| 9,180,961 | ||||||||
| Japan — 19.8% | ||||||||
| Advantest Corp. |
64,800 | 1,669,158 | ||||||
| Ajinomoto Co. Inc. |
9,100 | 332,356 | ||||||
| Asahi Group Holdings Ltd. |
21,900 | 792,132 | ||||||
| Astellas Pharma Inc. |
15,000 | 189,748 | ||||||
| Azbil Corp. |
2,100 | 62,052 | ||||||
| BayCurrent Consulting Inc. |
1,900 | 47,703 | ||||||
| Chugai Pharmaceutical Co. Ltd. |
20,100 | 596,097 | ||||||
| CyberAgent Inc.(a) |
178,300 | 935,977 | ||||||
| Dai Nippon Printing Co. Ltd. |
60,500 | 1,578,279 | ||||||
| Daifuku Co. Ltd. |
34,500 | 570,040 | ||||||
| Daiichi Sankyo Co. Ltd. |
33,600 | 866,349 | ||||||
| Daikin Industries Ltd. |
13,300 | 1,917,579 | ||||||
| Denso Corp. |
212,500 | 3,137,846 | ||||||
| ENEOS Holdings Inc. |
533,600 | 1,977,210 | ||||||
| Fast Retailing Co. Ltd. |
1,600 | 354,234 | ||||||
| Fuji Electric Co. Ltd. |
28,100 | 1,069,897 | ||||||
| FUJIFILM Holdings Corp. |
4,900 | 268,019 | ||||||
| Fujitsu Ltd. |
12,100 | 1,567,524 | ||||||
| Hankyu Hanshin Holdings Inc.(a) |
46,900 | 1,475,642 | ||||||
| Hitachi Ltd. |
38,200 | 2,421,367 | ||||||
| Honda Motor Co. Ltd. |
590,100 | 6,047,800 | ||||||
| Ibiden Co. Ltd.(a) |
19,300 | 822,884 | ||||||
| Inpex Corp. |
81,300 | 1,179,733 | ||||||
| Japan Real Estate Investment Corp. |
67 | 248,860 | ||||||
| JFE Holdings Inc. |
5,700 | 79,417 | ||||||
| Kawasaki Kisen Kaisha Ltd. |
3,600 | 123,444 | ||||||
| Kirin Holdings Co. Ltd. |
174,300 | 2,449,493 | ||||||
| Komatsu Ltd. |
33,300 | 765,114 | ||||||
| Kubota Corp. |
101,400 | 1,363,753 | ||||||
| Kurita Water Industries Ltd. |
30,800 | 935,809 | ||||||
| Kyocera Corp. |
49,100 | 2,420,208 | ||||||
| Kyowa Kirin Co. Ltd. |
6,200 | 97,243 | ||||||
| Lasertec Corp. |
1,000 | 165,180 | ||||||
| MatsukiyoCocokara & Co. |
3,000 | 52,625 | ||||||
| Mazda Motor Corp. |
20,700 | 200,086 | ||||||
| Mitsubishi Corp. |
5,700 | 265,709 | ||||||
| Mitsubishi Electric Corp. |
325,600 | 3,733,495 | ||||||
| Mitsubishi Estate Co. Ltd. |
57,100 | 730,898 | ||||||
| Mitsubishi Heavy Industries Ltd. |
26,500 | 1,364,873 | ||||||
| Mitsui & Co. Ltd. |
25,700 | 934,045 | ||||||
| Mitsui OSK Lines Ltd. |
35,300 | 911,351 | ||||||
| Mizuho Financial Group Inc. |
68,700 | 1,166,415 | ||||||
| Murata Manufacturing Co. Ltd. |
142,500 | 2,440,936 | ||||||
| NGK Insulators Ltd. |
139,700 | 1,706,890 | ||||||
| Nintendo Co. Ltd. |
58,900 | 2,433,419 | ||||||
| Nippon Building Fund Inc. |
178 | 715,192 | ||||||
| Nippon Express Holdings Inc. |
22,700 | 1,166,675 | ||||||
| Nippon Paint Holdings Co. Ltd. |
48,300 | 324,726 | ||||||
| Nippon Prologis REIT Inc. |
382 | 679,721 | ||||||
| Nippon Steel Corp. |
81,600 | 1,760,018 | ||||||
| Nippon Telegraph & Telephone Corp. |
98,000 | 115,324 | ||||||
| Nippon Yusen KK |
21,800 | 533,386 | ||||||
| Nissan Motor Co. Ltd. |
24,800 | 95,430 | ||||||
| Nitto Denko Corp. |
7,400 | 478,823 | ||||||
| Nomura Holdings Inc. |
486,500 | 1,879,547 | ||||||
| Nomura Research Institute Ltd. |
42,600 | 1,118,247 | ||||||
| NTT Data Corp. |
45,300 | 558,545 | ||||||
| Olympus Corp. |
33,100 | 442,062 | ||||||
| Omron Corp. |
42,900 | 1,536,987 | ||||||
| 2 |
| Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Japan (continued) | ||||||||
| Panasonic Holdings Corp. |
349,200 | $ | 3,063,703 | |||||
| Renesas Electronics Corp.(b) |
31,300 | 411,145 | ||||||
| Ricoh Co. Ltd. |
10,700 | 86,725 | ||||||
| Secom Co. Ltd. |
13,800 | 958,476 | ||||||
| Sekisui Chemical Co. Ltd. |
171,000 | 2,342,165 | ||||||
| Seven & i Holdings Co. Ltd. |
3,200 | 117,244 | ||||||
| Shin-Etsu Chemical Co. Ltd. |
52,200 | 1,560,956 | ||||||
| SoftBank Corp. |
32,900 | 371,996 | ||||||
| SoftBank Group Corp. |
13,800 | 565,166 | ||||||
| Sony Group Corp. |
23,400 | 1,945,449 | ||||||
| Sumitomo Chemical Co. Ltd. |
46,600 | 118,446 | ||||||
| Sumitomo Metal Mining Co. Ltd. |
20,700 | 581,503 | ||||||
| Sumitomo Mitsui Trust Holdings Inc. |
26,500 | 993,665 | ||||||
| Sysmex Corp. |
6,500 | 311,368 | ||||||
| TDK Corp. |
25,600 | 957,829 | ||||||
| Terumo Corp. |
47,000 | 1,285,835 | ||||||
| Tokyo Electron Ltd. |
4,100 | 541,764 | ||||||
| Toray Industries Inc. |
309,300 | 1,496,344 | ||||||
| Toshiba Corp.(a)(b) |
104,800 | 3,185,987 | ||||||
| TOTO Ltd. |
16,800 | 405,075 | ||||||
| Toyota Industries Corp. |
12,000 | 889,376 | ||||||
| Toyota Motor Corp. |
179,000 | 3,131,379 | ||||||
| Trend Micro Inc. |
3,200 | 120,591 | ||||||
| USS Co. Ltd. |
42,300 | 739,357 | ||||||
| West Japan Railway Co. |
1,200 | 45,737 | ||||||
| Yamaha Motor Co. Ltd. |
5,200 | 127,072 | ||||||
| ZOZO Inc. |
4,600 | 87,468 | ||||||
|
|
|
|||||||
| 92,315,393 | ||||||||
| Netherlands — 3.4% | ||||||||
| ABN AMRO Bank NV, CVA(c) |
21,933 | 295,407 | ||||||
| Aegon NV |
19,968 | 97,110 | ||||||
| Akzo Nobel NV |
6,017 | 403,649 | ||||||
| ASML Holding NV |
13,412 | 8,062,227 | ||||||
| ING Groep NV |
145,955 | 1,871,220 | ||||||
| Koninklijke Philips NV(b) |
58,079 | 1,104,806 | ||||||
| NN Group NV |
54,747 | 1,755,867 | ||||||
| OCI NV |
1,976 | 46,042 | ||||||
| Prosus NV(b) |
37,559 | 1,050,360 | ||||||
| Wolters Kluwer NV |
7,677 | 985,005 | ||||||
|
|
|
|||||||
| 15,671,693 | ||||||||
| New Zealand — 0.0% | ||||||||
| Mercury NZ Ltd. |
72,956 | 250,774 | ||||||
|
|
|
|||||||
| Norway — 1.5% | ||||||||
| Aker BP ASA |
64,557 | 1,860,636 | ||||||
| Equinor ASA |
104,068 | 3,488,692 | ||||||
| Norsk Hydro ASA |
139,961 | 798,157 | ||||||
| Orkla ASA |
118,610 | 817,519 | ||||||
|
|
|
|||||||
| 6,965,004 | ||||||||
| Portugal — 0.4% | ||||||||
| EDP - Energias de Portugal SA |
61,805 | 259,735 | ||||||
| Galp Energia SGPS SA |
92,601 | 1,394,086 | ||||||
| Jeronimo Martins SGPS SA |
18,057 | 416,302 | ||||||
|
|
|
|||||||
| 2,070,123 | ||||||||
| Singapore — 0.8% | ||||||||
| City Developments Ltd. |
119,400 | 551,127 | ||||||
| DBS Group Holdings Ltd. |
99,500 | 2,390,320 | ||||||
| Keppel Corp. Ltd. |
41,992 | 190,616 | ||||||
| Keppel REIT |
8,398 | 4,876 | ||||||
| United Overseas Bank Ltd. |
36,800 | 725,869 | ||||||
|
|
|
|||||||
| 3,862,808 | ||||||||
| Security | Shares | Value | ||||||
| Spain — 2.9% | ||||||||
| Acciona SA |
1,815 | $ | 228,824 | |||||
| Amadeus IT Group SA |
12,243 | 698,742 | ||||||
| Banco Bilbao Vizcaya Argentaria SA |
24,812 | 195,202 | ||||||
| Banco Santander SA |
586,652 | 2,157,667 | ||||||
| Cellnex Telecom SA(c) |
9,543 | 280,527 | ||||||
| Endesa SA |
53,417 | 1,005,023 | ||||||
| Grifols SA(a)(b) |
29,042 | 325,889 | ||||||
| Iberdrola SA |
577,167 | 6,419,262 | ||||||
| Industria de Diseno Textil SA |
52,847 | 1,824,171 | ||||||
| Telefonica SA |
98,641 | 381,014 | ||||||
|
|
|
|||||||
| 13,516,321 | ||||||||
| Sweden — 2.5% | ||||||||
| Atlas Copco AB, Class A |
28,336 | 366,923 | ||||||
| Atlas Copco AB, Class B |
27,297 | 306,634 | ||||||
| Boliden AB |
54,928 | 1,407,977 | ||||||
| EQT AB |
49,336 | 901,359 | ||||||
| Evolution AB(c) |
5,898 | 525,544 | ||||||
| Fastighets AB Balder, Class B(a)(b) |
24,565 | 104,372 | ||||||
| H & M Hennes & Mauritz AB, Class B |
49,030 | 658,702 | ||||||
| Nibe Industrier AB, Class B |
92,045 | 530,120 | ||||||
| Nordea Bank Abp |
206,275 | 2,172,533 | ||||||
| Skandinaviska Enskilda Banken AB, Class A |
64,438 | 719,097 | ||||||
| Swedbank AB, Class A |
23,193 | 380,906 | ||||||
| Tele2 AB, Class B |
466,628 | 3,313,823 | ||||||
| Telefonaktiebolaget LM Ericsson, Class B |
73,103 | 327,481 | ||||||
|
|
|
|||||||
| 11,715,471 | ||||||||
| Switzerland — 10.3% | ||||||||
| ABB Ltd., Registered |
181,476 | 6,097,178 | ||||||
| Barry Callebaut AG, Registered |
53 | 80,359 | ||||||
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS |
92 | 1,018,551 | ||||||
| Coca-Cola HBC AG, Class DI |
4,471 | 116,075 | ||||||
| Dufry AG, Registered(b) |
7,170 | 251,339 | ||||||
| Julius Baer Group Ltd. |
2,022 | 119,827 | ||||||
| Kuehne + Nagel International AG, Registered |
1,546 | 416,900 | ||||||
| Lonza Group AG, Registered |
3,131 | 1,096,489 | ||||||
| Nestle SA, Registered |
89,951 | 9,700,201 | ||||||
| Novartis AG, Registered |
77,502 | 7,255,703 | ||||||
| Partners Group Holding AG |
1,752 | 1,855,129 | ||||||
| Roche Holding AG, Bearer |
4,354 | 1,186,513 | ||||||
| Roche Holding AG, NVS |
18,216 | 4,694,437 | ||||||
| Sandoz Group AG(b) |
15,498 | 402,933 | ||||||
| Schindler Holding AG, Participation Certificates, NVS |
2,194 | 443,896 | ||||||
| SGS SA |
4,538 | 370,621 | ||||||
| Siemens Energy AG(a)(b) |
6,878 | 61,152 | ||||||
| SIG Group AG |
3,968 | 87,481 | ||||||
| Sika AG, Registered |
9,380 | 2,244,722 | ||||||
| Sonova Holding AG, Registered |
8,554 | 2,027,411 | ||||||
| STMicroelectronics NV |
68,845 | 2,624,378 | ||||||
| Swiss Life Holding AG, Registered |
2,559 | 1,643,596 | ||||||
| Swiss Re AG |
19,092 | 2,086,045 | ||||||
| Swisscom AG, Registered |
129 | 77,295 | ||||||
| Temenos AG, Registered |
2,116 | 152,448 | ||||||
| Zurich Insurance Group AG |
3,479 | 1,652,499 | ||||||
|
|
|
|||||||
| 47,763,178 | ||||||||
| United Kingdom — 12.9% | ||||||||
| 3i Group PLC |
70,360 | 1,658,918 | ||||||
| Anglo American PLC |
79,469 | 2,024,836 | ||||||
| Antofagasta PLC |
11,576 | 189,285 | ||||||
| AstraZeneca PLC |
53,255 | 6,667,718 | ||||||
| Auto Trader Group PLC(c) |
54,418 | 411,631 | ||||||
|
|
3 |
| Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock World ex U.S. Carbon Transition Readiness ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| United Kingdom (continued) | ||||||||
| Aviva PLC |
116,610 | $ | 564,808 | |||||
| BAE Systems PLC |
58,497 | 786,572 | ||||||
| Barclays PLC |
692,630 | 1,111,703 | ||||||
| Berkeley Group Holdings PLC |
26,923 | 1,323,443 | ||||||
| BP PLC |
468,199 | 2,858,829 | ||||||
| BT Group PLC |
531,660 | 730,196 | ||||||
| CNH Industrial NV |
69,424 | 769,355 | ||||||
| Coca-Cola Europacific Partners PLC |
26,030 | 1,523,015 | ||||||
| Compass Group PLC |
9,224 | 232,550 | ||||||
| Croda International PLC |
780 | 41,571 | ||||||
| Diageo PLC |
120,325 | 4,550,207 | ||||||
| Entain PLC |
7,266 | 82,486 | ||||||
| GSK PLC |
206,787 | 3,686,342 | ||||||
| HSBC Holdings PLC |
787,018 | 5,682,597 | ||||||
| Intertek Group PLC |
2,576 | 119,974 | ||||||
| J Sainsbury PLC |
586,301 | 1,834,429 | ||||||
| JD Sports Fashion PLC |
364,924 | 567,396 | ||||||
| Johnson Matthey PLC |
24,949 | 453,553 | ||||||
| Land Securities Group PLC |
11,394 | 78,980 | ||||||
| Lloyds Banking Group PLC |
2,440,599 | 1,187,836 | ||||||
| London Stock Exchange Group PLC |
3,964 | 399,948 | ||||||
| Mondi PLC |
3,685 | 59,607 | ||||||
| NatWest Group PLC, NVS |
224,404 | 488,262 | ||||||
| Ocado Group PLC(b) |
11,431 | 64,872 | ||||||
| Pearson PLC |
11,938 | 138,191 | ||||||
| Prudential PLC |
109,437 | 1,144,315 | ||||||
| Reckitt Benckiser Group PLC |
28,355 | 1,897,146 | ||||||
| RELX PLC |
112,690 | 3,936,001 | ||||||
| Rio Tinto PLC |
23,663 | 1,509,710 | ||||||
| Segro PLC |
68,253 | 593,265 | ||||||
| Shell PLC |
97,104 | 3,129,354 | ||||||
| Standard Chartered PLC |
100,012 | 766,825 | ||||||
| Tesco PLC |
378,946 | 1,243,533 | ||||||
| Unilever PLC |
116,436 | 5,514,481 | ||||||
|
|
|
|||||||
| 60,023,740 | ||||||||
|
|
|
|||||||
| Total Common Stocks — 96.6% |
449,594,535 | |||||||
|
|
|
|||||||
| Security | Shares | Value | ||||||
| Preferred Stocks |
||||||||
| Germany — 0.7% | ||||||||
| Bayerische Motoren Werke AG, Preference Shares, NVS |
11,914 | $ | 1,013,043 | |||||
| Dr Ing hc F Porsche AG, Preference Shares, NVS(c) |
1,462 | 128,137 | ||||||
| Henkel AG & Co. KGaA, Preference Shares, NVS |
1,535 | 110,728 | ||||||
| Sartorius AG, Preference Shares, NVS |
552 | 138,353 | ||||||
| Volkswagen AG, Preference Shares, NVS |
16,483 | 1,748,033 | ||||||
|
|
|
|||||||
| 3,138,294 | ||||||||
|
|
|
|||||||
| Total Preferred Stocks — 0.7% |
3,138,294 | |||||||
|
|
|
|||||||
| Total Long-Term Investments — 97.3% |
452,732,829 | |||||||
|
|
|
|||||||
| Short-Term Securities |
||||||||
| Money Market Funds — 2.5% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(d)(e)(f) |
2,043,705 | 2,044,523 | ||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 5.33%(d)(e) |
9,840,000 | 9,840,000 | ||||||
|
|
|
|||||||
| Total Short-Term Securities — 2.5% |
11,884,523 | |||||||
|
|
|
|||||||
| Total Investments — 99.8% |
464,617,352 | |||||||
| Other Assets Less Liabilities — 0.2% |
831,551 | |||||||
|
|
|
|||||||
| Net Assets — 100.0% |
$ | 465,448,903 | ||||||
|
|
|
|||||||
| (a) | All or a portion of this security is on loan. |
| (b) | Non-income producing security. |
| (c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
| (d) | Affiliate of the Fund. |
| (e) | Annualized 7-day yield as of period end. |
| (f) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | |
Value at 07/31/23 |
|
|
Purchases at Cost |
|
|
Proceeds from Sale |
|
|
Net Realized Gain (Loss) |
|
|
Change in Unrealized Appreciation (Depreciation) |
|
|
Value at 10/31/23 |
|
|
Shares Held at 10/31/23 |
|
Income | |
Capital Gain |
| |||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 198,782 | $ | 1,845,580 | (a) | $ | — | $ | 46 | $ | 115 | $ | 2,044,523 | 2,043,705 | $ | 1,095 | (b) | $ | — | |||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares |
9,720,000 | 120,000 | (a) | — | — | — | 9,840,000 | 9,840,000 | 108,105 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | 46 | $ | 115 | $ | 11,884,523 | $ | 109,200 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| (a) | Represents net amount purchased (sold). |
| (b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
| 4 |
| Schedule of Investments (unaudited) (continued) October 31, 2023 |
BlackRock World ex U.S. Carbon Transition Readiness ETF |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
| Long Contracts |
||||||||||||||||
| MSCI EAFE Index |
126 | 12/15/23 | $ | 12,437 | $ | (641,761 | ) | |||||||||
|
|
|
|||||||||||||||
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| • | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
| • | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
| • | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets |
||||||||||||||||
| Investments |
||||||||||||||||
| Long-Term Investments |
||||||||||||||||
| Common Stocks |
$ | 51,177,346 | $ | 398,417,189 | $ | — | $ | 449,594,535 | ||||||||
| Preferred Stocks |
— | 3,138,294 | — | 3,138,294 | ||||||||||||
| Short-Term Securities |
||||||||||||||||
| Money Market Funds |
11,884,523 | — | — | 11,884,523 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 63,061,869 | $ | 401,555,483 | $ | — | $ | 464,617,352 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Derivative Financial Instruments(a) |
||||||||||||||||
| Liabilities |
||||||||||||||||
| Equity Contracts |
$ | (641,761 | ) | $ | — | $ | — | $ | (641,761 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Portfolio Abbreviation
| NVS |
Non-Voting Shares |
|||||||||
| REIT |
Real Estate Investment Trust |
|||||||||
|
|
5 |